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We already have a expert advisor that trades xauusd/gold…We need a developer to add chart pattern recognition(double top & bottom) on the expert advisor the one we have doesn’t efficiently recognize chart patterns ( double bottom & top)
This is the strategy…to help the developer understand what we want. Basically when the robot notices a chart pattern “double top/M pattern” it enters a trade based on confirmation from Rsi & price level and the stop loss is moved to the entry price…That is all. The expert advisor targets 10 pips (TP).
chart patterns: The expert advisor should trigger entries on these chart patterns…Double top/bottom.
RSI: When the RSI touches 60, that indicates a sell. When the RSI touches 40, that indicates a buy. This applies to all timeframes.
Entry Prices: • 1.562 / 1.56 • 3.125 / 3.12 • 6.250 / 6.25 • / - for the difference in broker's price quotes. The numbers above represent the last digits of price levels where Gold changes direction. E.g., 2316.250 / 2316.25…- 1951.562 / 1951.56
You get a solid trading strategy when you combine all these factors (RSI, price entry, & chart patterns).
A signal is triggered when all the factors align at the same time (chart pattern, Entry price & RSI). THE ONLY PROBLEM WE HAVE IS THE CHART PATTERN RECOGNITION
Timeframes to be used
• 5 minutes(M) • 1 minute(M)
5 M, determines the direction of the financial instrument
1 M, determines the entry.
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